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Dec 26, 2012
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the president cutting his vacation short in hawaii. the president plans to leave for washington tonight. congress expected to return on thursday. president, guys, not expected to actually arrive in washington until tomorrow morning. no talks scheduled that we know of as of yet. all the attention's going to turn to the senate, which tends to be more of a compromising body than the house is. >> yes. and the president is available in person if you should want to go over there and visit with him. or perhaps if he wants to visit with anybody else. the consensus seems to be if you get some sort of a deal, it's obviously not going to be the big deal. it will simply be something that extends the tax cuts for the vast majority of americans, at least those earning less than $250,000 a year. the consensus seems to be, carl, that if we don't get a deal by the second or third or fourth week, the super bowl week, we'll start to feel it in the economy. >> we had a notable sell-off. there is typically a bias on christmas eve, but the worst christmas e
the president cutting his vacation short in hawaii. the president plans to leave for washington tonight. congress expected to return on thursday. president, guys, not expected to actually arrive in washington until tomorrow morning. no talks scheduled that we know of as of yet. all the attention's going to turn to the senate, which tends to be more of a compromising body than the house is. >> yes. and the president is available in person if you should want to go over there and visit with...
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Dec 26, 2012
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i think the president coming back from hawaii to show he can't be in hawaii over the holidays while this is hanging over our heads. i don't think anything gets done and i don't think the market cares. >> where do you see evidence e the -- >> we have been sitting at this forever. brent crude at 110. these are high numbers. that's a pretty strong market for one that's about to fall out of bed. you expect them to get something done in the last 18 hours they haven't gotten done in the last 18 months? i can't imagine. >> why does the market not care if you're right? >> why does the market not care? people are saying there are reasons to own the stock market, irrespective of the fiscal cliff and things coming in the wake of sequestration and expiration of tax cuts actually good, things to embrace. let's embrace good things. republicans should like it. a little bit of fiscal responsibility in here and military budgets no party wants to take on, irrespective of parties. a lot to like. maybe they think bernanke can come in and to a certain degree fix with more stimulus policy and buying of assets
i think the president coming back from hawaii to show he can't be in hawaii over the holidays while this is hanging over our heads. i don't think anything gets done and i don't think the market cares. >> where do you see evidence e the -- >> we have been sitting at this forever. brent crude at 110. these are high numbers. that's a pretty strong market for one that's about to fall out of bed. you expect them to get something done in the last 18 hours they haven't gotten done in the...
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Dec 24, 2012
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the president's playing golf in hawaii. there's nothing going on behind the scenes. >> there's not some -- >> meetings going on in the white house, there's not staff -- >> lining up a putt? >> no, which is difficult, because there's lots of other stuff that has to go into what the president talks about before he left on friday, which is the tax rates. he didn't talk about payroll tax cut, amt, a number of things. there's a lot that has to go into a final deal and how they get that done. >> my worry is we're not talking about early january, we're talking about late january. >> i think it's probably more mid january if we go over. because i think you'll see market reaction, and you'll see a lot of people freak out, and it's a problem. >> market reaction, would you think -- >> people still think it's, you know, we get a deal. last-minute deal. i tend to be an optimist. i've been a cliff diver for the start. the alternative to allowing it to happen is so crazy and so insane and so stupid. >> here's what -- i'm not advising the
the president's playing golf in hawaii. there's nothing going on behind the scenes. >> there's not some -- >> meetings going on in the white house, there's not staff -- >> lining up a putt? >> no, which is difficult, because there's lots of other stuff that has to go into what the president talks about before he left on friday, which is the tax rates. he didn't talk about payroll tax cut, amt, a number of things. there's a lot that has to go into a final deal and how...
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Dec 26, 2012
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president obama is coming back early as you mentioned, from his vacation in hawaii, but a senior white house official tells me they have seen no signs yet of progress toward a deal, so, everybody is going to have to wait for a couple of days. >> so, there's no indication at this point that there are any scheduled meetings tomorrow or anything to that effect, press conferences, news conferences to update the american people on what is going on in d.c.? >> everybody's got telephones, so, there's doubtless conversations going on. senate doesn't get back until late tomorrow. president gets back late tomorrow. the house is not back, but all of the leadership types, all the important players in any potential resolution of this are going to be in contact with one another and the likelihood that they will be in contact increases with every passing hour. >> john, stick around. i want to bring in anthony, who is on the desk here tonight. he was on the finance committee for mitt romney in his presidential bid. and what your sources are telling you is what in terms of if we reach a deal. >> i've t
president obama is coming back early as you mentioned, from his vacation in hawaii, but a senior white house official tells me they have seen no signs yet of progress toward a deal, so, everybody is going to have to wait for a couple of days. >> so, there's no indication at this point that there are any scheduled meetings tomorrow or anything to that effect, press conferences, news conferences to update the american people on what is going on in d.c.? >> everybody's got telephones,...
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Dec 26, 2012
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. >> some people i've talked to today suggested the mere fact the president is coming back from hawaii early on suggests good tidings. >> well, i think it suggests the president wants to be working on this problem and be seen as working on this problem, but it's only partially up to him. he's got to get the acquiescence of republicans and a temporary extension of tax cuts for people under $250,000. their acquiescence to turn off the sequester to avoid the automatic budget cuts are up to mitch mcconnell in part and also up to john boehner who may be asked before it's over to put on the floor of the house a bill that lacks support of the majority of his own members. that is something that would be a risk on the speaker's part as he faces a re-election by the house of representatives to the speakership in early january, but we'll see whether if it comes to that, whether he's willing to do it. 8. >> john, thank you very much. >>> as we edge ever closer to our impending fiscal doom, we will look more closely how the markets are reacting and what is yet to come. joining us now, michael farr
. >> some people i've talked to today suggested the mere fact the president is coming back from hawaii early on suggests good tidings. >> well, i think it suggests the president wants to be working on this problem and be seen as working on this problem, but it's only partially up to him. he's got to get the acquiescence of republicans and a temporary extension of tax cuts for people under $250,000. their acquiescence to turn off the sequester to avoid the automatic budget cuts are...
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Dec 27, 2012
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what we know about the president is that he cut short his hawaii vacation, arriving in d.c. earlier today. and we're not aware of new developments from the president, but mcconnell seemed to telegraph that the president called him yesterday and now expecting that the president would make him some sort of offer at some point in the future. we haven't seen that yet. so, this story continues, melissa. >> so, it sounds, eamon, like the house is going to reconvene and that's sort of a precautionary call at this point because of the time frame but there's not necessary a deal on the table or closer to being formed at this point. >> that's right. it's not an indication that they have a deal in hand and they're going to vet on something on sunday. it is an indication that they do want all of the bodies back here in d.c. on sunday night. so that if they have to proceed to votes, they can do it and they know where their people are. everybody got 48 hours notation. a lot of the folks are retiring. they're all over the country. snowstorm is wrecking havoc on travel plans. everybody has
what we know about the president is that he cut short his hawaii vacation, arriving in d.c. earlier today. and we're not aware of new developments from the president, but mcconnell seemed to telegraph that the president called him yesterday and now expecting that the president would make him some sort of offer at some point in the future. we haven't seen that yet. so, this story continues, melissa. >> so, it sounds, eamon, like the house is going to reconvene and that's sort of a...
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Dec 22, 2012
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. >>> now, here's what president obama had to say just before leaving for hawaii for christmas. >> i just spoke to speaker boehner, and i also met with senator reid. in the next few days i've asked leaders of congress to work towards a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans, and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> wow. ten days. so, will the fiscal cliff solve in ten days? i know there's a deal out there some place it may not be until january, but let's ask our free market friday panel what they think. we have the columnist for the hill and former dnc communications director katie pavlitz. and mr. greenhaus is going to stay with us. all right, katie. first of all, obama basically said in ten days we can get a deal, it sounds like a small deal, 250,000 is the middle class threshold after mr. boehner's plan "b" got defeated. is such a thing possible? or will we have to wait until the new year? >> we're probably
. >>> now, here's what president obama had to say just before leaving for hawaii for christmas. >> i just spoke to speaker boehner, and i also met with senator reid. in the next few days i've asked leaders of congress to work towards a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans, and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten...
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Dec 14, 2012
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president obama doesn't want to cancel his hawaii vacation, and harry reid's threatening to keep congress in session, again, for the third year, fourth year in a row. that could have been one of the things they talked about. but at this point, i'm not quite sure if boehner can really get a deeper spending cut deal. i think the most he's going to be able to get is a promise. >> keith boykin, the other thing when i was down in washington yesterday, on the phone with all these guys, is that basically the republicans are going to cave in. basically they're going to cut their losses. basically it's a strategic retreat, that's what i call it, and they will give the president, they will give him his middle class tax cuts, or extended tax cuts and the top rates are going up. now, what the gop gets in return for that i do not know. but i see a cave-in, keith. >> i think you're right. they have no choice, larry. i mean, there's no leverage. the tax rates are going to expire on december 31st, so on january 1st, regardless of whether they do nothing or not, something's going to happen. the president'
president obama doesn't want to cancel his hawaii vacation, and harry reid's threatening to keep congress in session, again, for the third year, fourth year in a row. that could have been one of the things they talked about. but at this point, i'm not quite sure if boehner can really get a deeper spending cut deal. i think the most he's going to be able to get is a promise. >> keith boykin, the other thing when i was down in washington yesterday, on the phone with all these guys, is that...
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Dec 27, 2012
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yes, the president returning early from his hawaii vie cation today. at the top of this hour, expecting any minute on the senate floor that harry reid might come and give us some comment and guidance here on where to expect fiscal cliff talks to go over the next 48 hours or so. we know that the house of representatives will not be in session today but speaker bain he or she conferencing in his colleagues on a phone call this afternoon, all that up against a monday deadline. now we are told by game leadership that they will advise their numbers by saturday if they are going to bring them back into washington for a vote on anything on monday if there is a deal. there you see the united states senate is coming into session is this morning. we are going to keep an eye out for those remarks from senator reid, and of course, remarks on this fiscal cliff debacle have been moving the markets throughout the past couple of weeks, wait and see what harry reid has to say. guys, not a whole lot here to give those guys consumer confidence. >> the essence of poll tak
yes, the president returning early from his hawaii vie cation today. at the top of this hour, expecting any minute on the senate floor that harry reid might come and give us some comment and guidance here on where to expect fiscal cliff talks to go over the next 48 hours or so. we know that the house of representatives will not be in session today but speaker bain he or she conferencing in his colleagues on a phone call this afternoon, all that up against a monday deadline. now we are told by...
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., hawaii and california, they're getting the biggest tax benefit in the $3,000 to $4,000 range. new york and new jersey are also way up there, thanks to high home values and income. and i'm noting them because these two states need home buyers, desperately. they have some of the biggest backlogs of distressed properties and need buyers in there absorbing that distress. taking away the deduction takes away one more reason to buy. $2,000 to $5,000 a year is a big savings. but we have to keep this in perspective. you only get the deduction if you itemize an only about one-third of americans do itemize. just 27% taking the deduction. and i want to note one other thing, older americans, 54% of families ages 55 to 64 are carrying mortgage debt. that's way up from 37% in 1989, because during the housing crash they were unable to move. so that's going to hit them hard as well. especially for the next several years. melissa? >> some very interesting figures. diana, thanks for that report. back at headquarters a quick market flash. >> good morning. take a look at marathon petroleum tradin
., hawaii and california, they're getting the biggest tax benefit in the $3,000 to $4,000 range. new york and new jersey are also way up there, thanks to high home values and income. and i'm noting them because these two states need home buyers, desperately. they have some of the biggest backlogs of distressed properties and need buyers in there absorbing that distress. taking away the deduction takes away one more reason to buy. $2,000 to $5,000 a year is a big savings. but we have to keep...
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Dec 24, 2012
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. >> in the meantime, the president is in hawaii on vacation. washington lawmakers are on holiday. there's still no deal to avoid the fiscal cliff. the deadline is a week away. hampton pearson is in washington on the stalemate. >> as early as the day after christmas, congress and the white house will have to start to deal with what president obama called the real consequences of going over that fiscal cliff. >> nobody can get 100% of what they want. and this is not simply a contest between parties in terms of who looks good and who doesn't. there are real world consequences to what we do here. >> a short-term deal won't just focus on tax rates. the end of the payroll tax cut and the impact of the hike in the minimum tax on january 1st. over the weekend, we did hear from some republican moderates who say it may in fact be time to make some kind of a move. >> the president's statement is right, no one wants taxes to go up on the middle class. i don't want them to go up on anybody. but i'm not in the majority in the united states senate and he's the president of the united states. >>
. >> in the meantime, the president is in hawaii on vacation. washington lawmakers are on holiday. there's still no deal to avoid the fiscal cliff. the deadline is a week away. hampton pearson is in washington on the stalemate. >> as early as the day after christmas, congress and the white house will have to start to deal with what president obama called the real consequences of going over that fiscal cliff. >> nobody can get 100% of what they want. and this is not simply a...
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but also hawaii, a big percent comes from defense spending. the green is nondefense. ala kass, new mexico, kentucky. so we talk about $620 billion being spread across the economy that will be individual hits to individual states and individual people that will be hit harder if this qulif does take effect. >> some sobering numbers. >>> the phrase that got the most nominations on the list of words to be banished, fiscal cliff. so we want to know what other phrases should be banned and why? tweet us. we have your responses coming up next. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. it's no wonder so many investors are saying... i've always kept my eye on her... but wit
but also hawaii, a big percent comes from defense spending. the green is nondefense. ala kass, new mexico, kentucky. so we talk about $620 billion being spread across the economy that will be individual hits to individual states and individual people that will be hit harder if this qulif does take effect. >> some sobering numbers. >>> the phrase that got the most nominations on the list of words to be banished, fiscal cliff. so we want to know what other phrases should be banned...
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Dec 18, 2012
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. >>> but first, the hawaii senator daniel inouye died at the age of 8837 he's a veteran and war hero. he was the senate pro item. >>> welcome back to squawk this morning. applemaker is confirming plans for a hand set factory in indonesia. foxconn now saying no timeline has been set. it would cost $5 billion to $10 billion following worker deaths, sudz and other things foxconn and apple has set pledged to bridge a new building steemt. >>> leo g ray kowski is the asset managements. really, leo? do you oversee $178 billion? >> i have a lot of help, swroe. >> that sounds like you would have a lot more wrinkles and look a lot more haggard if you had that responsibility. if we get a cliff deal which is looking closer, are our problems over in terms of this sort of market that's been stuck in the mud for a decade, do you think? >> i think a lot depends on time frame, but no is the short answer to your question. i think, you know, markets being discounting mechanisms, i think it's very unlikely that here in the short-term, we get the type of meaningful entitlement reform and a thoughtful and
. >>> but first, the hawaii senator daniel inouye died at the age of 8837 he's a veteran and war hero. he was the senate pro item. >>> welcome back to squawk this morning. applemaker is confirming plans for a hand set factory in indonesia. foxconn now saying no timeline has been set. it would cost $5 billion to $10 billion following worker deaths, sudz and other things foxconn and apple has set pledged to bridge a new building steemt. >>> leo g ray kowski is the asset...